$BTC/USDC Market Update ๐จ
Bitcoin is currently trading around 69,000 after a strong rejection from the 72K resistance zone. The market is showing clear bearish momentum on the 1H timeframe.
๐ Technical Overview:
Price is below MA(25) & MA(99) โ bearish trend
Continuous lower highs & lower lows
Strong selling pressure visible in volume
Recent support tested near 68,600
โ ๏ธ Key Levels:
๐ด Resistance: 70,200 โ 71,500
๐ข Support: 68,600 โ 68,000
๐ Trade Idea:
๐ Short positions preferred below 70K
๐ Target: 68,000 โ 67,500
๐ Stop Loss: Above 71,000
๐ก If price breaks and holds above 70K, trend may reverse short-term.
๐ฅ Conclusion:
Market is still bearish, avoid risky buys. Wait for confirmation before entering long.
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